Tradeshows reborn: the new marketplace is the old marketplace
For decades, tradeshows or exhibitions have been a staple of marketing comms but their importance has changed. You may have thought they’d faded away for a while (and during the pandemic, they did) but they still have much to offer if you approach them in the right way.
The rise in digital comms has led to serious questions about the value of trade exhibitions. They can be expensive, it can be difficult to get people there, and flying staff around the world to attend them can challenge budgets and emissions reduction strategies.
With OTC in Houston coming up next week, it’s a good time to think about maximising your return on investment from trade shows. If you haven’t updated your approach in the last 20 years, then you’d be right to question their worth. But if you reset your goals, the opportunities they offer for you to own the space in your market are enormous.
Here are three things to consider when planning your next trade show.
Closing rather than opening: the timing of the conversation has turned on its head
In the old days, meeting prospective customers at a trade show would be the starting point of a process that would hopefully lead to a deal. Today, targeting people you want to engage with and interacting with them through social media means you can introduce yourself and your offer well before showtime. In this way, the show changes from the point where the conversation begins to the place where you meet to seal the deal. Or strengthen existing relationships, not initiate them.
Teaching rather than learning gives greater value
One of the reasons people attend trade shows is to learn new things, so make sure you use the opportunity to teach them about your offering in a way that benefits them. Being a speaker rather than a listener establishes your status among your existing contacts. It can also attract positive attention from new sources, beyond potential customers, such as media, investors and partners.
Networking: the baby you threw out with the bathwater
One of the main benefits of trade shows is the networking opportunities. Networking doesn't come naturally to some, but the benefits often makes the effort well worthwhile. What is certain, however, is that a room full of people who share your interests will always present opportunities. If you’re not in that room, you’re obviously missing out. If you’re normally office or homebound, networking might feel a little awkward. However, researchers at Yale recently found face-to-face meetings engage people more than meetings over the internet. OTC Houston and many other shows have a vibrant networking scene.
Own the space
Whether in Asia, Europe or North America, supporting our clients and networking ourselves at trade shows – particularly across the energy and maritime sectors - has been core to Fifth Ring’s activity since we started more than 30 years ago. There is a shift in how the trade show scene works and we are working with clients to ensure they take advantage of them.
Contact us if you want to find out more.
